The Word Caucus Means

question 51

Multiple Choice

The word caucus means:

• A) "Delegate"
• B) "Nominate"
• C) "Select"
• D) "Meeting"

---

Definitions:

Marginal Benefit

The increased benefit or value received from the consumption or creation of one more unit of a good or service.

Marginal Cost

The investment required to manufacture an additional unit of a product or service.

Nonrivalry

The idea that one person’s benefit from a certain good does not reduce the benefit available to others; a characteristic of a public good.

Nonexcludability

The inability to keep nonpayers (free riders) from obtaining benefits from a certain good; a characteristic of a public good.